KELLANOVA (KEL.DE) Stock Fundamental Analysis
FRA:KEL - Deutsche Boerse Ag - US4878361082 - Common Stock - Currency: EUR
We assign a fundamental rating of 5 out of 10 to KEL. KEL was compared to 57 industry peers in the Food Products industry. KEL has an excellent profitability rating, but there are concerns on its financial health. KEL does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
KEL had positive earnings in the past year.
In the past year KEL had a positive cash flow from operations.
KEL had positive earnings in each of the past 5 years.
Each year in the past 5 years KEL had a positive operating cash flow.
1.2 Ratios
The Return On Assets of KEL (8.92%) is better than 91.23% of its industry peers.
The Return On Equity of KEL (35.25%) is better than 96.49% of its industry peers.
The Return On Invested Capital of KEL (13.11%) is better than 96.49% of its industry peers.
The Average Return On Invested Capital over the past 3 years for KEL is significantly above the industry average of 6.98%.
The last Return On Invested Capital (13.11%) for KEL is above the 3 year average (11.99%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.92% | ||
| ROE | 35.25% | ||
| ROIC | 13.11% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
1.3 Margins
With an excellent Profit Margin value of 10.92%, KEL belongs to the best of the industry, outperforming 82.46% of the companies in the same industry.
In the last couple of years the Profit Margin of KEL has grown nicely.
KEL's Operating Margin of 15.51% is amongst the best of the industry. KEL outperforms 84.21% of its industry peers.
KEL's Operating Margin has improved in the last couple of years.
KEL has a Gross Margin (36.59%) which is comparable to the rest of the industry.
KEL's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.51% | ||
| PM (TTM) | 10.92% | ||
| GM | 36.59% |
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so KEL is still creating some value.
KEL has more shares outstanding than it did 1 year ago.
KEL has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, KEL has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 3.46 indicates that KEL is not in any danger for bankruptcy at the moment.
KEL has a better Altman-Z score (3.46) than 85.96% of its industry peers.
KEL has a debt to FCF ratio of 6.51. This is a slightly negative value and a sign of low solvency as KEL would need 6.51 years to pay back of all of its debts.
KEL has a Debt to FCF ratio (6.51) which is in line with its industry peers.
KEL has a Debt/Equity ratio of 1.43. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.43, KEL is doing worse than 82.46% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | 3.46 |
ROIC/WACC1.61
WACC8.13%
2.3 Liquidity
A Current Ratio of 0.80 indicates that KEL may have some problems paying its short term obligations.
KEL's Current ratio of 0.80 is on the low side compared to the rest of the industry. KEL is outperformed by 85.96% of its industry peers.
KEL has a Quick Ratio of 0.80. This is a bad value and indicates that KEL is not financially healthy enough and could expect problems in meeting its short term obligations.
KEL has a Quick ratio of 0.52. This is in the lower half of the industry: KEL underperforms 71.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
The earnings per share for KEL have decreased by -8.11% in the last year.
Measured over the past years, KEL shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.46% on average per year.
KEL shows a small growth in Revenue. In the last year, the Revenue has grown by 2.96%.
The Revenue has been decreasing by -1.25% on average over the past years.
EPS 1Y (TTM)-8.11%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-10.89%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-3.66%
3.2 Future
Based on estimates for the next years, KEL will show a small growth in Earnings Per Share. The EPS will grow by 4.63% on average per year.
KEL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.24% yearly.
EPS Next Y-0.1%
EPS Next 2Y2.12%
EPS Next 3Y3.03%
EPS Next 5Y4.63%
Revenue Next Year0.51%
Revenue Next 2Y1.48%
Revenue Next 3Y2.05%
Revenue Next 5Y2.24%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 21.31, KEL is valued on the expensive side.
KEL's Price/Earnings is on the same level as the industry average.
KEL's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.50.
A Price/Forward Earnings ratio of 19.86 indicates a rather expensive valuation of KEL.
Based on the Price/Forward Earnings ratio, KEL is valued a bit more expensive than the industry average as 68.42% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.44, KEL is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.31 | ||
| Fwd PE | 19.86 |
4.2 Price Multiples
KEL's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. KEL is more expensive than 71.93% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of KEL indicates a slightly more expensive valuation: KEL is more expensive than 63.16% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 32.04 | ||
| EV/EBITDA | 13.87 |
4.3 Compensation for Growth
The excellent profitability rating of KEL may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y2.12%
EPS Next 3Y3.03%
5. Dividend
5.1 Amount
KEL has a Yearly Dividend Yield of 2.86%.
KEL's Dividend Yield is comparable with the industry average which is at 3.34.
Compared to an average S&P500 Dividend Yield of 2.35, KEL pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.86% |
5.2 History
The dividend of KEL has a limited annual growth rate of 1.51%.
Dividend Growth(5Y)1.51%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
56.67% of the earnings are spent on dividend by KEL. This is a bit on the high side, but may be sustainable.
The dividend of KEL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP56.67%
EPS Next 2Y2.12%
EPS Next 3Y3.03%
FRA:KEL (7/17/2025, 7:00:00 PM)
68.84
+0.66 (+0.97%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)
Earnings (Next)
Inst Owners82.54%
Inst Owner ChangeN/A
Ins Owners0.44%
Ins Owner ChangeN/A
Market Cap23.88B
Analysts54.55
Price Target74.19 (7.77%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.86% |
Yearly Dividend1.94
Dividend Growth(5Y)1.51%
DP56.67%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.95%
Min EPS beat(2)-12.53%
Max EPS beat(2)8.62%
EPS beat(4)3
Avg EPS beat(4)2.8%
Min EPS beat(4)-12.53%
Max EPS beat(4)9.89%
EPS beat(8)7
Avg EPS beat(8)7.81%
EPS beat(12)11
Avg EPS beat(12)7.62%
EPS beat(16)15
Avg EPS beat(16)8.34%
Revenue beat(2)0
Avg Revenue beat(2)-3.1%
Min Revenue beat(2)-4.93%
Max Revenue beat(2)-1.26%
Revenue beat(4)1
Avg Revenue beat(4)-1.62%
Min Revenue beat(4)-4.93%
Max Revenue beat(4)0.37%
Revenue beat(8)3
Avg Revenue beat(8)-0.28%
Revenue beat(12)7
Avg Revenue beat(12)0.61%
Revenue beat(16)10
Avg Revenue beat(16)0.52%
PT rev (1m)0.38%
PT rev (3m)-3.47%
EPS NQ rev (1m)-0.36%
EPS NQ rev (3m)-3%
EPS NY rev (1m)0.09%
EPS NY rev (3m)-3.61%
Revenue NQ rev (1m)-0.12%
Revenue NQ rev (3m)-0.76%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)-0.84%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.31 | ||
| Fwd PE | 19.86 | ||
| P/S | 2.19 | ||
| P/FCF | 32.04 | ||
| P/OCF | 18.29 | ||
| P/B | 7.06 | ||
| P/tB | N/A | ||
| EV/EBITDA | 13.87 |
EPS(TTM)3.23
EY4.69%
EPS(NY)3.47
Fwd EY5.04%
FCF(TTM)2.15
FCFY3.12%
OCF(TTM)3.76
OCFY5.47%
SpS31.44
BVpS9.75
TBVpS-7.17
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.92% | ||
| ROE | 35.25% | ||
| ROCE | 17.6% | ||
| ROIC | 13.11% | ||
| ROICexc | 13.49% | ||
| ROICexgc | 33.43% | ||
| OM | 15.51% | ||
| PM (TTM) | 10.92% | ||
| GM | 36.59% | ||
| FCFM | 6.83% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
ROICexc(3y)12.48%
ROICexc(5y)11.99%
ROICexgc(3y)36.74%
ROICexgc(5y)35.13%
ROCE(3y)15.6%
ROCE(5y)14.99%
ROICexcg growth 3Y9.44%
ROICexcg growth 5Y7.97%
ROICexc growth 3Y8.64%
ROICexc growth 5Y9.53%
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
F-Score7
Asset Turnover0.82
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 6.51 | ||
| Debt/EBITDA | 2.41 | ||
| Cap/Depr | 174% | ||
| Cap/Sales | 5.14% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 64.84% | ||
| Profit Quality | 62.54% | ||
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.52 | ||
| Altman-Z | 3.46 |
F-Score7
WACC8.13%
ROIC/WACC1.61
Cap/Depr(3y)144.93%
Cap/Depr(5y)131.73%
Cap/Sales(3y)4.42%
Cap/Sales(5y)4.17%
Profit Quality(3y)102.41%
Profit Quality(5y)100.55%
High Growth Momentum
Growth
EPS 1Y (TTM)-8.11%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-10.89%
EPS Next Y-0.1%
EPS Next 2Y2.12%
EPS Next 3Y3.03%
EPS Next 5Y4.63%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-3.66%
Revenue Next Year0.51%
Revenue Next 2Y1.48%
Revenue Next 3Y2.05%
Revenue Next 5Y2.24%
EBIT growth 1Y23.29%
EBIT growth 3Y1.56%
EBIT growth 5Y5.55%
EBIT Next Year19.54%
EBIT Next 3Y9.19%
EBIT Next 5Y7.16%
FCF growth 1Y-17.57%
FCF growth 3Y-0.47%
FCF growth 5Y13.92%
OCF growth 1Y-5.5%
OCF growth 3Y1.14%
OCF growth 5Y8.4%